Crypto
Schiff Warns MSTR in Death Spiral as BTC Surges Past $80,000
Strategy (MSTR) stock has surged to $137.40 as Bitcoin (BTC) price rallied above $80,000. Peter Schiff, a longtime critic of Strategy and Bitcoin, warns that MSTR is in a 'death spiral' due to its preferred stock dividend obligations.
Schiff believes the recent rally is driven by short sellers closing positions rather than genuine buying conviction. He attributes this to a short squeeze, not fresh conviction behind the stock.
Michael Saylor, Strategy's executive chairman, responded to Schiff's warning with an AI-generated video of himself riding a bull in Spain. The video was captioned 'Ride the ₿ull' and posted on X.